As an update to the earlier disclosure relating to the supply of crude oil from the B-80 field to Hindustan Petroleum Corporation (‘HPCL’), Hindustan Oil Exploration Company has informed that the parties have agreed to refer the disputes arising from the transaction for conciliation before a reputed former Chief Justice of High Court for resolution. Pursuant to the agreed arrangement, the original invoice raised by the Company on HPCL has been cancelled and the Company has initiated process to dispose off the crude.
The above information is a part of company’s filings submitted to BSE.
